Financial services giant Fidelity Investments, which manages more than $ 2.6 trillion in client assets, is interested in offering customers more than just Bitcoin (BTC) and Ethereum (ETH). Fidelity previously revealed that it is pursuing blockchain and cryptocurrency-related services, with the goal to release a product as soon as early 2019. To facilitate these products, Fidelity launched Fidelity Digital […]SludgeFeed

Nearly three months have passed since Goldman Sachs, a $ 73 billion investment bank based in the US, said that it is not ready to facilitate the delivery of “physical Bitcoin” to its clients. The banking giant is still not able to hold cryptocurrencies on behalf of its clients, despite growing demand from clients. At a

Bitcoin (BTC) has suffered another major sell-off over the last week, dropping nearly 24% over the period. Major altcoins, outside of XRP (XRP), have performed just as bad or worse. However, according to data recently published by eToro senior market analyst Mati Greenspan, it looks like investors on the Tel Aviv-based trading app have taken […]SludgeFeed

Crypto fanatics have been on the edge of their seats waiting for the banking firm, Goldman Sachs to make an official move on the firm’s goal to integrate Bitcoin derivatives. The rumours have been stirring since October last year when the Wall Street Journal first reported the investment banking giant might intentions of launching a Bitcoin trading operation. The latest news is that the banking firm is said to have taken on a small number of clients to actively trade a Bitcoin derivatives product.Read more...

Inside sources say Goldman Sachs is already onboarding some of its clients to trade on its Bitcoin derivatives, non-deliverable forward (NDF) contracts platform. However, the bank reportedly has no plans to launch trading support for other cryptocurrency derivatives but is serious about providing custodial services.

Goldman Trading Bitcoin Derivatives?

According to the International Business Times, the Wall Street Bank is allowing a select group of clients trade a Bitcoin-based derivative product. The lack of fanfare around the reported launch might be a deliberate attempt by Goldman Sachs to work out all the kinks from the project before the major launch. Read more...

After months of conflicting reports, it looks like investment banking giant Goldman Sachs (GS) is now onboarding clients to adopt its new Bitcoin (BTC) derivative product. According to a recent report by The Block that cites insiders familiar with the matter, Goldman Sachs is currently introducing a small number of institutional investors to its bitcoin non-deliverable forward […]SludgeFeed

Here’s something we don’t hear every day: a Swiss bank has opted to enable its clients to participate in initial coin offerings easily. The bank, Swissquote, has previously allowed customers to trade in cryptos. This is, to say the least, an unusual service for a fiat banking institution. Additionally, Swissquote offers traditional FOREX trading and

Europe’s top banks allegedly helped wealthy clients across the continent steal 55 billion euros ($ 63 billion) from multiple governments by making tax reclaims to which they were not entitled, an investigation has revealed. The theft centred around a complex scheme of trading stocks that also involved hedge funds and large international commercial law firms.

Undercover Journalists Uncover ‘the Biggest Tax Swindle in the History of Europe.’

The undercover probe by 37 journalists from 12 countries shows that about a dozen European countries are affected by the tax scandal, but Belgium, Denmark and Germany were hardest hit. France, Italy, the Netherlands, Norway, Spain, Sweden and Switzerland have also seen some damage. Read more...

Earlier this week, reports revealed that Coinbase is shutting down its market-cap-weighted index fund targeted at accredited investors after raising less than the firm expected. In the wake of these reports, Barry Silbert, the founder of Grayscale Investments, a crypto-focused investment fund, seized the opportunity to make it known that Grayscale’s Digital Large Cap Fund is still accepting new […]SludgeFeed

Corporate customers tangled up in the aftermath of Mt. Gox’s historic hack can finally file for reparations.

The now-defunct Japanese bitcoin exchange opened up its claim filing system to corporate users this Wednesday, September 12, 2018. Previously, the system was open only to non-corporate individuals as of August 23, 2018, but with today’s announcement, any entity that lost funds to the exchange can now file for rehabilitation claims.

Creditors have until October 22, 2018, to file for rehabilitation, after which point they will be disenfranchised. Read more...

Another Swiss private bank has announced in a statement that it’s open to on-board cryptocurrencies. Maerki Baumann private bank in Zurich is open to accepting assets that were generated with cryptocurrencies, “under the condition that strict regulatory and legal requirements are fully complied with,” Managing Director Stephan Zwahlen told news.Bitcoin.com.

Goldman Sachs has reiterated it plans to roll out “crypto asset offerings” to clients in future in what Bloomberg describes would be a “boost for the burgeoning universe of funds betting on cryptocurrencies.”

‘In Response To Client Interest’

In comments to the publication August 6, a spokesman for the financial giant built on previous announcements from May this year about its plans to offer Bitcoin futures.

“In response to client interest in various digital products we are exploring how best to serve them in this space,” the spokesman said. Read more...

Cryptocurrency companies active in the world of cloud mining always face an uphill struggle. It is evident things are not looking all that great as of right now. HashFlare, one of the bigger cloud mining providers as of right now, has confirmed that it will not resume Bitcoin mining for the time being.

HashFlare Calls It Quits, for Now

The profitability of Bitcoin mining extends to both regular companies and cloud mining providers. Whenever this profitability drops below a certain threshold, something needs to change. As long as the Bitcoin price does not recover any of its lost value, cloud mining will be unprofitable.Read more...

With institutional investment being something of a major theme in the blockchain space these days, financial advisors better start studying up on cryptocurrencies and their underlying technology – and fast – lest they risk losing their clients.

‘It’s Really Here to Stay’

JP Morgan chairman Jamie Dimon once called Bitcoin a “fraud,” and Vanguard CEO Tim Buckley once told CNBC, “You will never see a fund from Vanguard on bitcoin.”

Their loss.

Despite a slew of negativity from high-profile individuals in the world of investment banking, Bitcoin and other cryptocurrencies are an increasingly more viable alternative to traditional investments that should be a part of any serious investor’s portfolio — as evidenced by the number of traditional bankers jumping ship for cryptocurrency-related investment vehicles. Read more...